Do you reside in the US? Are you struggling with paying taxes? Are you looking for a way out if possible? If you have such concerns then welcome to our website because, in this blog post, I’ll be telling you where you can visit for tax debt relief in the US.
As a US citizen, one of the scariest debts anyone can owe is the tax debt. You might wonder why that’s so. The answer is simple, Washington’s power to collect their debt is limitless. If you are not complying with your tax debt it could incur interest and harsh penalties. For neglecting your tax payment, the IRS can place or confiscate liens on your properties, garnish your paycheck, and even invade your bank account.
With all that in mind, it begs the question “Where can I visit in the US to get tax debt relief?” Fortunately, you are in luck because there are a few places you can visit for tax debt relief. If you are eager to know these places, continue reading to find out more.
Before I go out to list the different tax debt relief options, if you don’t know what tax debt relief really means, you might end up making the wrong decision.
What is tax debt relief?
Tax debt relief is a broad concept that covers diverse options, and each of these options is designed to make the best possible peace between IRS and taxpayers that have fallen behind.
What this means is that tax debt relief options can come in between you, the taxpayer and the IRS, and then try to settle the dispute before they start confiscating your properties or trying others measure to recover the debt you owe.
What are the tax debt relief options available?
There are different tax debt relief options and I’ll be introducing you to a few of them.
IRS payment plans
When you need more time to pay your tax bill, the IRS can give it to you but, it’ll be in the form of a payment plan. What does that mean? A payment plan is used to allow you to pay back your overdue tax (which includes fees and accrued interest) as instalments over a period of time.
Offers in compromise
Offer in compromise is another way to get tax relief. What does the offer in compromise do? It lets you settle your taxes with the IRS for an amount lesser than what you originally owe. The IRS considers this option if you can’t pay your tax debt or if after paying the tax debt, it’ll create financial hardship for you.
The only problem with this tax relief option is that it is much more difficult to get the IRS to sign off on an offer in compromise than a payment plan. The IRS usually rejects more than half of this type of request.
Before you’ll be able to qualify for this tax relief option, the IRS considers your income and expenses, how many assets you own and your ability to pay.
Employ the services of a tax relief company
Tax relief companies, help taxpayers who are in distress. Some can even help you if you need help filling the forms or educate you if you are confused about the process.
Just in case you don’t know how to carry out the other options above, a tax relief company can charge you a small fee and from there they can determine how much you owe the IRS and also set up a payment plan for you or determine whether or not you qualify for the offer in compromise.
The tax relief company is one very good option if you don’t know your way around settling the debt you owe the IRS. Over the past few years, there has been a sudden rise in the number of scam companies pretending to help taxpayers settle their debts. Rather than going online to search for a tax relief company and get scammed, you can visit our client’s website of course. They’ll help you in settling the dispute you have with the IRS so that the IRS won’t have to resort to using harsh means to recover their debt.